September 1, 2009,
Travis County Housing Finance Corporation

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>> let's call the order the Travis County housing finance corporation one item.
consider and take appropriate action on request to execute a subordination agreement tor a home buyer who wants to refinance a first lien mortgage.

>> good afternoon, I'm harvey Davis, manager for the corporation.
and this home buyer, we assisted this home buyer with a $10 ,000 dollar forgivable loan on January 5, twight.
8 thou came from a grant from the Texas department of housing community affairs and 2000 came from the corporation.
so there's a second lien and third lien on the house.
the home buyer wants to refinance the home to get a, because she is able to obtain a lower interest rate.
and the state has subordinated their $8 thou dollar line.
what I'm recommending the board to do is to approve subordinating the lean lien on the home.
the home buyer still lives on the home, iscan a the loan, and this will just benefit her in that she will have a new mortgage with a lower interest rate.

>> so is the original that we were given a few minutes ago this is the same as the copy in the backup?

>> the copy you have in the backup was the executed copy from the state.
and this will be the copy that I gave you.
it will be the one that we would execute.

>> okay.
questions?

>> and it was prepared by our attorney, cliff.

>> move approval.

>> second.

>> discussion?
all in favor.
that passes by unanimous vote.

>> move adjourn.

>> ec.

>> all in favor.
that passes unanimously also.

The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.

Last Modified: Tuesday, September 1, 2009 3:14 PM

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